Avanti Mining Inc. Appoints New Directors
VANCOUVER, BC -- (Marketwire) -- 11/20/12 -- Avanti Mining Inc. ("Avanti") (TSX VENTURE: AVT) (PINKSHEETS: AVNMF) today announces the appointment of Michael Winship, P.Eng and Gordon Bogden, P.Eng as directors of the company.
Mr. Winship is a mining engineer with over 30 years of experience in the mining industry. Most recently he was Chief Operating Officer of Quadra FNX Ltd before its acquisition by KGHM in March 2012. Prior to that Mr. Winship had senior management positions with HudBay Minerals Inc., PT Inco, Vale Inco Limited and Placer Dome Inc. He sits on the board of Rubicon Minerals and has served as director of Ontario & Canadian mining associations.
Mr. Bogden is a corporate director and a retired investment banker with over 30 years of experience in the mining industry advising in mergers and acquisitions, restructuring and debt and equity capital markets transactions. He concluded his banking career in 2012 as Vice Chairman, Metals & Mining, of Standard Chartered Bank and was previously a co-founder and Managing Partner of Gryphon Partners Canada and held senior executive positions with National Bank Financial Inc., Beacon Group Advisors Ltd., Newcrest Capital Inc., N.M. Rothschild & Sons Canada and CIBC Wood Gundy Securities Inc. He currently sits on boards of Camino Minerals Corp, NexGen Energy Ltd., Royal Gold, Inc. and Volta Resources Inc.
Mr. Winship and Mr. Bogden will be filling the vacancies created by the resignations of Robert Cross and Ryan Bennett from the Avanti board. Mr. Bennett the Senior Partner of Avanti's largest shareholder, Resource Capital Funds LLP ("RCF") is resigning from all RCF investee companies to focus on strategic issues and Mr. Cross will be devoting more time to his own business ventures.
Craig J. Nelsen, President and CEO of Avanti, said, "I am very pleased to welcome Michael and Gord to the Avanti board. Together they bring a wealth of engineering and financial expertise and I look forward to their involvement as we advance Kitsault through the financing, development and operational stages. I also want to personally thank Bob and Ryan for their valuable contributions to the Board over the past five years. Their advice will be greatly missed but we look forward to their continued input as significant shareholders."
Avanti is focused on the development of the past producing Kitsault molybdenum mine located north of Prince Rupert in British Columbia.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements: This news release contains certain forward-looking information concerning the business of Avanti Mining Inc. (the "Corporation"). All statements, other than statements of historical fact, in particular statements herein about the future financing, development and operation of a mine at the Kitsault project are forward-looking statements. These forward-looking statements are based on the opinions of management at the date the statements are made and are based on assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events to differ materially from those projected in forward-looking statements. Important factors that could cause actual results to differ materially from the Corporation's expectations all the risks and uncertainties associated with developing a mine and commencing operations disclosed in the Corporation's Annual Information Form for the year ended December 31, 2010 and Management's Discussion and Analysis for the six months ended June 30, 2012, each of which are available at www.sedar.com. The Corporation is under no obligation to update forward-looking statements if circumstances or management's opinions should change, excepting as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.
For further information, please visit www.avantimining.com, or contact:
A.J. Ali
Chief Financial Officer
303-565-5491, extension 4472
Craig J. Nelsen
Chief Executive Officer
303-565-5491, extension 4471